JioStar's Quarterly Profit Slips 13.2% to 1,147 Crore

what happened

Net profit at JioStar, the media and entertainment arm of Reliance Industries (RIL), fell 13.2% year on year in the quarter ended September 30, 2026, to 1,147 crore from 1,322 crore a year earlier. Moody's reported the figures, citing Reliance's investor presentation.

Gross revenue climbed 9.8% to 7,944 crore, and revenue from operations rose 10.1% to 6,806 crore. Operating EBITDA, however, dropped 10.5% to 1,372 crore, and the operating EBITDA margin narrowed by 600 basis points to 22.1%. Including investment income, total EBITDA declined 13.6% to 1,502 crore.

The audience kept growing. JioHotstar averaged about 440 million monthly active users in the quarter, up 10% from a year earlier, and entertainment watch-time rose more than 15%. Paying subscribers in Singapore, the UK and Canada grew roughly 30% after the platform relaunched in those markets in September. A new "Pay Kisi Aur Se" feature lets subscribers ask friends or family to complete their payments and lifted incremental payment initiations by 10%.

why it matters

Revenue is growing faster than profit, and that is the key question for the segment: audience gains have not yet translated into operating profit at the same pace. For Reliance, where JioStar sits within the group, the report is a gauge of how well its entertainment services are being monetized.

market impact

Reliance Industries: weaker JioStar operating margin and profit weigh on the segment's results

tags

instruments